Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.027%

Price spread now: BloFin against Backpack−0.243%66s7-day average +0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$510.507% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.323%+$32 on $10k

Price spread, last 3 days (all we have)+0.437%+$44 · spread now −0.243%, 7d avg +0.067%

Together, before fees+0.761%+$76 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.310% cheaper against Backpack than usual: you would sell low and buy high (spread −0.243% now, against its 7-day average of +0.067%). If the spread goes back, that is −$31 on $10k: about 4.3 days of funding at the current rate (+$7 a day). The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WLFI_USDC_PERP	0.05765	0.0100	pay 0.0013% / 1h	15m 28s	$240K	$27K	10x
Short	BloFin WLFI-USDT	0.05751	0.0340	get 0.0170% / 4h	3h 15m	$4.7M	$77K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee BloFinbpOrdersPrice spread, now −0.243%Rate

Funding earned: $50.4
Price spread: −0.243% → +0.067%: −$30.96
Slippage, 4 orders: −$28.75
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$31.31
Costs to cover: 0.507%
Break-even: 11.3 days

Slippage from Backpack: live order book, 58 min ago; BloFin: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, 58 min ago	0.87 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	2.61 bp	17.9 bp −$18	30.1 bp −$301	doesn't fit	doesn't fit

WLFI on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WLFIUSD	−0.0109%	1h	0.05764	−0.021%	$73K	$49K	20x	as long as short
Lighter WLFI	0.0000%	1h	0.05759	−0.104%	$993K	$399K	5x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05759	−0.112%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+4.864%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05759	−0.104%	$523	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05757	−0.140%	$315	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.850%	$6K	$77K	5.5x	as long as short
Aster WLFIUSDT	+0.0078%	4h	0.05761	−0.075%	$1.6M	$587K	20x	as long as short
Paradex WLFI-USD-PERP	+0.0089%	8h	0.05764	−0.009%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05761	−0.061%	$80K	$24K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLFI	+0.0100%	1h	0.05759	−0.111%	$10.5M	$1.3M	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05762	−0.057%	$247K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05760	−0.092%	$138.0M	$39.5M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05758	−0.121%	$21.0M	$17.5M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05758	−0.121%	$7.6M	$12.7M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05766	+0.012%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05760	−0.087%	$3.5M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05760	−0.087%	$14.3M	$21.4M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05763	−0.035%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05760	−0.087%	$8.0M	$3.1M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05761	−0.069%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERPlong	+0.0100%	1h	0.05765	long leg	$240K	$27K	10x
Variational Omni WLFI	+0.0100%	4h	0.05752	−0.232%	$442K	$34K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05750	−0.260%	$277K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05750	−0.260%	$33K	$41K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05760	−0.087%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05761	−0.069%	$117	$6K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05759	−0.100%	$133K	$506K	10x	as long as short
01 Exchange WLFIUSD	+0.0128%	1h	0.05762	−0.052%	$4K	$319	3x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0232%	1h	0.05737	−0.486%	$32K	$16K	50x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05755	−0.180%	$3K	—	100x	as long as short
BloFin WLFI-USDTshort	+0.0340%	4h	0.05751	−0.243%	$4.7M	$77K	75x